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Pacs Group cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$179M in Q3 2026 · $448M over twelve months

Operating cash flow$211M
Capital spending−$32.5M
Free cash flow+$179M
Cash / net income3.5×
Cash conversion cycle26 days

Analysis

In Q3 2026, Pacs Group generated $211M of operating cash flow and spent $32.5M on capital projects, leaving free cash flow of $179M. That is $8.0M less than in Q3 2025 ($187M).

Over the twelve months to Sep 30, 2026, operating cash flow was $580M; the largest uses were other investing ($524M), capital spending ($132M), net borrowing (+) / repaid (−) ($103M); besides operations, cash came from shares issued ($4.3M); the cash balance fell by $231M.

Operating cash flow was $211M against net income of $60.8M — 3.5× profit, cash ran ahead of reported earnings. The largest differences: employee-related liabilities +$65.2M, stock-based pay +$45.3M, receivables −$25.8M.

Its cash conversion cycle was 26 days (receivables 40 + inventory 0 − payables 14).

Free cash flow

Pacs Group: free cash flow by quarterPacs Group: free cash flow by quarter$40.0MQ4 2024$133MQ1 2025$34.0MQ2 2025$187MQ3 2025−$54.5MQ4 2025$215MQ1 2026$109MQ2 2026$179MQ3 2026
Operating cash flow less capital spending.
Pacs Group: operating cash flow against capital spendingPacs Group: operating cash flow against capital spendingOperating cash flowCapital spending$64.6M$24.6MQ4 2024$150M$17.7MQ1 2025$52.6M$18.6MQ2 2025$205M$18.0MQ3 2025−$3.4M$51.1MQ4 2025$236M$21.8MQ1 2026$136M$26.5MQ2 2026$211M$32.5MQ3 2026
Latest (Q3 2026): Operating cash flow $211M, Capital spending $32.5M.

Capital allocation, year by year

Pacs Group: where the cash came from (up) and went (down), by fiscal yearPacs Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2022: Operating cash flow $92.6MFY2022: Net borrowing $33.3MFY2022: Asset sales $10KFY2022: Capital spending −$22.9MFY2022: Dividends −$60.3M$126MFY2022FY2023: Operating cash flow $63.7MFY2023: Net borrowing $356MFY2023: Asset sales $750KFY2023: Capital spending −$45.8MFY2023: Dividends −$80.4M$420MFY2023FY2024: Operating cash flow $367MFY2024: Net borrowing −$379MFY2024: Shares issued $95.3MFY2024: Asset sales $1.5MFY2024: Capital spending −$66.5MFY2024: Dividends −$33.7M$464MFY2024FY2025: Operating cash flow $404MFY2025: Net borrowing −$43.5MFY2025: Asset sales $750KFY2025: Capital spending −$105M$405MFY2025
Over these 4 years operating cash flow totalled $928M; the largest uses were net borrowing ($422M) and capital spending ($241M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$115M
Debt$353M
Net debt$238M
Due within a year$4.5M

Pacs Group funds itself: free cash flow was $448M over the last twelve months, and $115M of cash and investments stands against $353M of debt ($4.5M due within a year, 25.8× covered by cash).

Pacs Group: debt maturities by year (FY2025)Pacs Group: debt maturities by year (FY2025)$4.5MYear 1$8.3MYear 2$105MYear 3$4.7MYear 4$4.9MYear 5$226MAfter year 5
Principal due in each year as disclosed in the annual report, against $115M of cash and investments now.

Where the cash came from and went

Pacs Group: sources (+) and uses (−) of cash, Q3 2026Pacs Group: sources (+) and uses (−) of cash, Q3 2026Other investing−$223MOperating cash flow$211MCash drawn (+) / kept (−)$48.7MCapital spending−$32.5MTaxes on employees’ shares−$6.5MOther financing$3.0MPartners−$538KNet borrowing (+) / repaid (−)−$355K
Pacs Group: sources (+) and uses (−) of cash, TTM to Q3 2026Pacs Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$580MOther investing−$524MCash drawn (+) / kept (−)$231MCapital spending−$132MNet borrowing (+) / repaid (−)−$103MTaxes on employees’ shares−$46.2MOther financing−$9.0MShares issued$4.3MPartners−$745K

From profit to cash

Pacs Group: net income to operating cash flow, Q3 2026Pacs Group: net income to operating cash flow, Q3 2026Net income$60.8MStock-based pay$45.3MDeferred taxes−$17.5MReceivables−$25.8MPayables$16.0MAccrued liabilities$16.6MEmployee-related liabilities$65.2MPrepaid and other assets−$6.6MOther liabilities$12.2MOperating cash flow$211M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202640—1426
Q2 202641—1427
Q1 202640—1625
Q4 202543—1825
Q3 202543—1727
Q2 202546—1729
Q1 202547—1630
Q4 202446—1630

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$211M−$32.5M−$355K$48.7M$179M
Q2 2026$136M−$26.5M−$45.5M$96.8M$109M
Q1 2026$236M−$21.8M−$55.3M−$41.7M$215M
Q4 2025−$3.4M−$51.1M−$1.3M$127M−$54.5M
Q3 2025$205M−$18.0M−$41.9M−$61.4M$187M
Q2 2025$52.6M−$18.6M−$40K−$7.0M$34.0M
Q1 2025$150M−$17.7M−$244K−$130M$133M
Q4 2024$64.6M−$24.6M$142M−$98.8M$40.0M

Pacs Group: income statement and cash flow

Pacs Group, Q3 2026: revenue $1.5B (+12% year over year), operating margin 6.7%. The chart follows the revenue to costs, profit and cash.

Pacs Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.